Dains, a top 30 accountancy firm, has been acquired by IK Partners, marking a shift in private equity backing after three years with Horizon Capital. The deal involves significant investment from the IK X Fund, along with a notable reinvestment from Dains' management team. While the exact value of the transaction remains undisclosed, estimates suggest it could reach up to £250 million, based on a multiple of four times the firm's revenues.

The acquisition will provide Dains with the necessary capital to pursue its ambitious acquisition strategy, focus on organic growth in the UK and Ireland, and enhance its operational capabilities and recruitment efforts. This transition comes after Horizon Capital's initial investment in Dains, which took place in December 2021, when the firm opted for private equity support.